Various stepless variable speed torque transmitting devices have heretofore been provided; however, because of certain design characteristics they have been beset with one or more of the following shortcomings: (a) the power capacity thereof is unduly limited because of the low tension ratios required; (b) various components of the device are subjected to an inordinate amount of wear; (c) the device produces an undesirable amount of noise during operation; (d) the operating efficiency of a drive or transmission utilizing the device is low;, (e) the device is costly and difficult to install; and (f) the device lacks structural stability.